Morgan Stanley Issues Positive Forecast for Urban Outfitters (NASDAQ:URBN) Stock Price

Urban Outfitters (NASDAQ:URBN) had its price target raised by Morgan Stanley from $38.00 to $41.00 in a research note released on Wednesday,Benzinga reports. They currently have an equal weight rating on the apparel retailer’s stock.

A number of other research analysts also recently issued reports on the stock. Bank of America boosted their price target on shares of Urban Outfitters from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday. Telsey Advisory Group upped their price objective on shares of Urban Outfitters from $44.00 to $46.00 and gave the stock a “market perform” rating in a report on Wednesday. StockNews.com downgraded shares of Urban Outfitters from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. BMO Capital Markets lowered their target price on shares of Urban Outfitters from $42.00 to $39.00 and set a “market perform” rating for the company in a report on Thursday, August 22nd. Finally, Jefferies Financial Group lowered their target price on shares of Urban Outfitters from $35.00 to $34.00 and set an “underperform” rating for the company in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Urban Outfitters currently has a consensus rating of “Hold” and an average target price of $46.27.

Urban Outfitters Price Performance

NASDAQ:URBN opened at $48.73 on Wednesday. The firm’s 50 day simple moving average is $37.88 and its 200 day simple moving average is $40.21. Urban Outfitters has a one year low of $33.86 and a one year high of $49.48. The company has a market cap of $4.50 billion, a PE ratio of 13.96, a P/E/G ratio of 1.08 and a beta of 1.50.

Urban Outfitters (NASDAQ:URBN) last posted its earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 EPS for the quarter, topping the consensus estimate of $0.82 by $0.28. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.34 billion. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $0.88 EPS. Equities research analysts expect that Urban Outfitters will post 3.79 EPS for the current year.

Insider Buying and Selling

In other Urban Outfitters news, CEO Tricia D. Smith sold 11,730 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $35.29, for a total transaction of $413,951.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 31.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Urban Outfitters

A number of institutional investors and hedge funds have recently added to or reduced their stakes in URBN. CANADA LIFE ASSURANCE Co boosted its position in Urban Outfitters by 5.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 62,583 shares of the apparel retailer’s stock worth $2,717,000 after purchasing an additional 2,953 shares during the period. Lazard Asset Management LLC boosted its position in Urban Outfitters by 96.6% during the first quarter. Lazard Asset Management LLC now owns 6,815 shares of the apparel retailer’s stock worth $295,000 after purchasing an additional 3,348 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Urban Outfitters by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 33,202 shares of the apparel retailer’s stock worth $1,442,000 after purchasing an additional 2,307 shares during the period. Tidal Investments LLC boosted its position in Urban Outfitters by 5.8% during the first quarter. Tidal Investments LLC now owns 18,575 shares of the apparel retailer’s stock worth $807,000 after purchasing an additional 1,016 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its position in Urban Outfitters by 287.4% during the second quarter. Harbor Capital Advisors Inc. now owns 46,300 shares of the apparel retailer’s stock worth $1,901,000 after purchasing an additional 34,350 shares during the period. Institutional investors own 77.61% of the company’s stock.

Urban Outfitters Company Profile

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nuuly. It operates Urban Outfitters stores, which offer women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28; and Anthropologie stores that provide women's apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.